Selling a home is not any easier than buying a home. It would help if you found the optimal selling value for the property while also staying in line with the real estate market dynamics in the Fraser Valley.
In addition to this, you also need to work on improving the appeal of your home so that it would look attractive for potential buyers. Yes, it does sound like lots of work.
But worry not! The best place to start would be to hire a real estate agent. Their level of experience and expertise would surely help you through the selling process. We have also put together a simple eight-step guide that you could use to guide you through the process.
Well, Let us take a look.
| Step 01: Deciding To Sell & Getting Started |
| Step 02: Finding A Real Estate Agent |
| Step 03: Getting Your House Listed For Sale |
| Step 04: Staging Your Home |
| Step 05: Reviewing Offers |
| Step 06: Negotiating Offers |
| Step 07: Closing On The Home |
| Step 08: Moving Homes |
Step 01: Deciding To Sell & Getting Started
For some reason, you may end up deciding to sell your house. Regardless of the reason, every seller hopes to get the best possible price through the sale. For this, you need to identify ways to add value to the property: because this allows you to ask for a higher price.
The following are several value-adding approaches for real estate properties.
1. Renovation
The extent of the renovation required to your house depends on its condition. For instance, some homes might just need to be whitewashed, whereas others might need a complete renovation, from the flooring to the fixtures and accessories.
However, before getting started, make sure to do a cost-benefit evaluation and assess whether the renovation will genuinely add value to your sale. If the cost far outweighs the value-added, then the investment might not be worthwhile.
If you are not really sure how to proceed, get in touch with your real estate agent. They will help you decide what is best for you and your house.
2. Improve The Exterior Appeal
As the saying goes, a first impression is the best impression. Therefore, it is important to work on the exterior appeal of your house since this is what your potential buyers will first see. So, work on improving the exterior of your home. You can do so much like mowing the lawn, watering the flowers, and cleaning the pathways.
3. Get Your Home Inspected
More often than not, your potential buyers will get a professional home inspection done before finalizing any deal. Hence, it is better if you could get it done beforehand to avoid any last-minute unpleasant surprises. This home inspection will reveal any concerns or shortcomings of the property, which you can attend to before putting the house up for sale.
Step 02: Finding A Real Estate Agent
Now that you have decided to sell your home and start the pre-sale preparation, getting invested in the official procedure is next. When it comes to selling homes, there is a lot of paperwork, legalities, and market research involved. This is exactly why it is essential to find a real estate agent who can represent you for the sale if you already do not have one. Their level of knowledge is unmatched; hence, they can ensure that your sale goes smoothly without a hitch.
Step 03: Getting Your House Listed For Sale
Having prepared for the sale and found a real estate agent, next you should focus on listing your home for sale. Listing a home is not just about putting up a for-sale sign on the lawn or posting a small advert in a local magazine. To make sure that your home is open for the best possible offers, you can do a bit more. For this, your real estate agent will help you out with the following.
1. Deciding On A Selling Price
Deciding on a fair price is one of the most challenging tasks in selling a house. Because you need to find that ideal selling price that is neither too low nor too high. This is where your real estate agent’s knowledge comes into play. They will do a full-on assessment of your house, the location, and other factors to determine a fair price for the home. And worry not, they have your best interests in heart!
2. Promoting Your Home In The Market
Having prepared your house and decided the price for the sale, you also need to market your house to attract potential buyers. You can use local newspapers and magazines. But in the current context, digital platforms are the most influential: so you can look into different platforms that include property sales. Your real estate agent will direct you to the best options.
Step 04: Staging Your Home
Once you have marketed your house for sale, you will have to show the property to all interested parties. Therefore, you need to present your home in a manner that will look appealing to all potential buyers. The following are a few tips that you could use for viewings.
1. Home Staging
Home staging is actually the art of arranging your home for viewings. You can do a thorough cleaning of the insides of your home, launder the curtains and shades, clean the carpets and cabinets.
Furthermore, make sure to remove any personal belongings such as family portraits, awards, and certificates. Make use of furniture that will compliment your space.
There are dedicated agencies that allow you to rent furniture for home staging. Else, you can even borrow from your friends and family. You just have to make sure that your home is appealing enough to be bought at the end of the day.
2. Conducting An Open House
An open house is one of the most effective ways of attracting potential buyers to your home. So, try your best to conduct an open house. But when doing so, make sure that your home is well presented. Please give it a comfortable and homey look. Also, make it a point to treat and accommodate those who walk in for the open house. Leave a few refreshments out for the viewers, and make sure to answer all their questions to the best of your knowledge.
Step 05: Reviewing Offers
Now that you have opened your house for many potential buyers, the chances are that you will get an offer pretty fast. On the quest to get the best possible offer, you might have to review and assess each and every offer you get. It is not just about the price, but also about the other contract terms and conditions that may come with the offer. While your realtor will help you review these offers before accepting, the following are a few essential things you should also keep in mind.
1. Read and Understand The Terms
In addition to the selling price, an offer also includes other terms; the payment plan, method of financing, and any other contractual obligations such as whether the house will be sold with the furniture or not. Furthermore, the offer will also say whether the buyer expects a firm sale: where he will accept the house as it is, or whether he expects a conditional sale: where he will purchase the house only given that the house has met conditions such as passing a home inspection.
2. Thoroughly Review The Offers Received
When it comes to offers, do not make sudden decisions just based on the price. Do a thorough review of what the offer says: the included terms, conditions, and expectations. The offer might consist of a clause that says you need to renovate the roofing or redo the basement. So, make sure you look into every tiny detail. Because at the end of the day, all of this matters. If things seem confusing, speak to your REALTOR®. They will help you out.
Step 06: Negotiating Offers
Now that you have started receiving offers, you might realize that there are terms and conditions that you are not entirely happy with when reviewing them. For instance, buyers may be quoting a lower price or might have included clauses that are not feasible from your end. In such cases, you might have to negotiate and bring counter offers to the table.
At this phase, there are two main aspects that you need to know.
1. Counteroffers
Once a buyer makes an offer, you will review it from end to end. You might realize that some parts of the offer are not worth it or are unfair to you during this. In such cases, you might come up with a modified offer for the buyer that they may accept or not. Either way, do not hesitate to make counter offers or even reject buyer’s offer because you need a fair trade: not one that is unfair to you.
2. Multiple Offers
More often than not, real estate sellers get multiple offers at the same time. In such cases, you need to carefully go through each offer to understand the pros and cons of accepting it. Because your goal is to get the best possible offer, so you have the freedom to compare and contrast what you have received. However, do not forget to be transparent, respectful, and kind when dealing with potential buyers.
Step 07: Closing On The Home
Given that you have negotiated and arrived at a reasonable offer, the next up is closing on the home. When you close on the home, this means you have officially transferred the legal ownership of the house to the new owner.
But do not forget, there are a few obligations you need to meet on closing day as well. Make sure you settle your legal fees and complete your official documentation as well. Get it done right the first time so that you would not have to revisit the sale. If you are not familiar with the closing process, your real estate agent will help you to make sure that everything is done and dusted.
Step 08: Moving Homes
After going through the entire sales process, now comes the time where you need to say goodbye to the house. As sad as it may be, we know that you will also be excited to move into your new home. To make the move easier, we have compiled a list of moving tips that will guide you along the way.
- Make your own checklist early on to not miss out on anything with all the excitement.
- Have a clear packing plan that will make things easier when unpacking your new home. Pack room by room and label the boxes.
- Get quotations from several professional movers and select the most reliable and affordable mover. Else, you can even opt just to hire the moving truck and do the move by yourself with the help of friends and family.
- Make sure to disconnect your telephone, internet, and other utilities. At the same time, check on getting the utilities for your new home.
- Inform your friends and family about the move so that they will know where you will be in case they need to reach out.
- If you are a parent, make sure to speak to your kids and explain the move to them. After all, they need the time to say goodbye to their friends and pack up their rooms (which indeed might be emotional for them as well)
- Plan for a lazy meal for the day of the move. You cannot be spending the time or effort on cooking.
And, now that you have successfully sold your home and moved into your new place, congratulations! We hope your new home will be filled with love, laughter, and joy – as usual!